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Business, 27.12.2019 00:31 gl648809

Does this production function have constant returns to scale? explain. b) what is the per-worker production function, y = f(k) c) assume that neither country experiences population growth or technological progress and that 20-percent of capital depreciates each year. assume further that country a saves 10% of output each year and country b saves 30% of output each year. using your answer from part (b) and the steady-state condition that investment equals depreciation, find the steady-state level of capital per worker for each country. then find the stead-state levels of income per worker and consumption per worker. d) suppose that both countries start off with a capital stock

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